Credit Card
Reduction in credit limit

I.had ICICI credit cards visa & American express since Oct. My credit limit was Rs.1 Lac. I have never defaulted on account of payment. I have always paid my dues on time. On 05/09/09 I was trying to book my e air ticket to Manchester, UK by using my credit card no 4477 4741 1900 8012 (valid from Oct, 06 to Oct, 10) but my transaction was failed due to insufficient limit of my card. Immediately, I contacted customer care office and I was told that my credit limit was reduced to merely Rs. 14999/- I was stunned, few days back I recieved a call from ICICI executive to inhance my credit limit to Rs. Three Lacs and all of sudden it was reduced to Rs. 14999/- and that to without intimating me. I am manager in IDTR a unit of Maruti Suzuki India Ltd. It was a great insult to me and my organisation. It resulted a sharp reaction from me, I asked customer care office to cancel my both cards. There was no logic to keep the cards just for Rs. 14999/- My orgn is such a reputed one where many Co/Banks come with great offer. Certainly I can get new ones but I want to know have I ever defaulted on payments or not paid the dues, if not then why my limit was reduced, please inform me. Thanks & Regard.

Company: Credit Card
Country: India

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